Today @BloombergNEF published its Zero Emission Vehicle (ZEV) Factbook. Great stuff in here, starting with this: EV sales were 7% of passenger vehicle total in 2Q 2021. 🧵/1 bloomberg.com/professional/d…
🧵/10 There are now more than 500 battery electric, plug-in hybrid, and fuel cell car models available (this chart ends 4Q 2020) bloomberg.com/professional/d…
🧵/11 new EV models have greater and greater range, with 2022 models averaging 400 kilometers bloomberg.com/professional/d…
🧵/17 ...and, capex commitments. As someone once said, capex is destiny. Take note of one rather major outlier on EV capex bloomberg.com/professional/d…
🧵/18 Automakers with commitments to phase out internal combustion engines represent 27% of the global auto market bloomberg.com/professional/d…
🧵/19 manufacturers covering 58% of the auto market have set some form of net-zero target bloomberg.com/professional/d…
🧵/20 There are a lot of places planning to phase out internal combustion engine vehicle sales! bloomberg.com/professional/d…
THREAD: Exactly 10 years ago, solar PV module manufacturer Solyndra went bankrupt. It's quite the story. VCs, Silicon Valley, the U.S. Treasury, trade, supply/demand, technology risk/innovation, competition.
And the most important thing, 10 years later? It doesn't matter at all.
2/ What it was: a solar novelty in (literally) multiple dimensions. Cadmium telluride thin-film PV, mounted in a glass tube, with a bespoke racking system only for commercial roofs, needing a special rubber roofing backsheet. Mounted, it looked like this:
3/ Why it was: conceived when crystalline silicon solar panels were 1/ very expensive 2/ relatively inefficient (compared to today) with 3/ scarce inputs and 4/ uncertain future supply - targeted at an underserved market
It’s important to remember that from a climate perspective, nuclear and renewables are not in competition. There will be enough growth in electricity demand to support significant expansion of every zero-carbon power generation technology. bloomberg.com/news/articles/…
Nuclear could even wind up being essential to deep decarbonization in other sectors. One @BloombergNEF scenario for 0-carbon 2050 features massive deployment of modular nuclear reactors designed to complement wind, solar, and battery tech bloomberg.com/news/articles/…
Still, getting nuclear power back on the growth curve is a decade-long process. The best time to have done it would have been 10 (or 20) years ago. The second-best time is right now. bloomberg.com/news/articles/…
Thread: 1/ global renewable energy investment at its highest first half-year level...ever. And just 2% less than 2H 2020, the highest half-year ever. about.bnef.com/blog/public-ma…
2/ Investment in assets actually fell since the first half of 2020 - but let's split that out by technology about.bnef.com/blog/public-ma…
1/10 My 10 charts on energy, transport, emissions, e-commerce, and sustainable finance to put paid to 2020 (and look ahead to 2021).
No. 1: Energy became the smallest component of S&P500 bloomberg.com/opinion/articl…
2/10 Renewable power gen is the cheapest new source of electrons almost anywhere and (related to above) does so with a higher return on equity than most oil supermajors bloomberg.com/opinion/articl…
3/10 Electric vehicles have already vaporized a million barrels per day of oil demand. Most of that demand erosion isn't from cars, or even buses - it's from 2- and 3-wheelers. bloomberg.com/opinion/articl…
The U.S. and U.K. moved this week to make climate-related financial risks the norm. All businesses everywhere should get ready to do the same.
THREAD: bloomberg.com/news/articles/…
1/ In its latest Financial Stability Report, the @federalreserve specifically calls out climate change as a near-term risk to the financial system. bloomberg.com/news/articles/…
2/ Climate change, it concludes, “increases the likelihood of dislocations and disruptions in the economy” and “is likely to increase financial shocks and financial system vulnerabilities that could further amplify these shocks.” bloomberg.com/news/articles/…
It's here - @BloombergNEF's 2020 New Energy Outlook. Peak energy emissions, peak oil demand, peak coal demand, 56% wind and solar power in 2050, hydrogen pathways, and $78-130 trillion (with a T) in investment 2020-50. Highlights: about.bnef.com/new-energy-out…#BNEFNEO THREAD:
1/ @BloombergNEF#BNEFNEO 2020: In our core Economic Transition Scenario, global carbon emissions from energy use drop 8% in 2020 and now appear to have peaked in 2019. Covid subtracted 2.5 years of emissions' we're on track for 3.3 degrees of warming about.bnef.com/new-energy-out…
2/ @BloombergNEF#BNEFNEO 2020: Emissions from all transport peak in 2033, two years after the road segment, as a result of ongoing growth in aviation and shipping. Building emissions grows at 0.7% year-on-year from 9% of emissions in 2019 to 14% in 2050. about.bnef.com/new-energy-out…